INCOME PROTECTION COSTS AND COVER

How much does income protection insurance cost?

The cost of income protection insurance varies based on your age, your health history, how much of your income you want to protect, and the period you’re willing to wait before your income protection insurance kicks in.

You can choose a policy that adjusts for inflation or you can choose to cover your income in more than one step, so you can have two policies that have a different waiting period.

You protection is paid by a simple monthly premium, by direct debit – and it can be very affordable.

Some typical policies

This table shows average premiums and benefits using data from eight different leading income protection insurance companies. Some insurers provide income protection with premiums well below the averages shown.

Income protection policies vary between each company, so you need to compare costs and benefits before deciding.


Occupation Risk Categories are used by insurance companies to help calculate income protection premiums and risk.
The risk categories in the table above relate to occupations such as:
Medium (3) – Tradesperson, Nurse
Medium Low (2) – General Clerical Worker
Low (1) – Professional